Business Update Presentation 10th February 2014

PT ELANG MAHKOTA TEKNOLOGI Tbk SCTV Tower Senayan City 18th Floor Jl. Asia Afrika Lot 19 Jakarta 10270 – Indonesia www.emtek.co.id

Disclaimer By reading these presentation slides or attending this presentation, you (the “Recipient”) agree to be bound by the following terms and conditions. These materials have been prepared by PT Elang Mahkota Teknologi Tbk (the “Company”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. None of the Company or any of their affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed. Further, this presentation does not purport to be all-inclusive or comprehensive. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice. This document includes statements that are, or may be deemed to be 'forward looking statements'. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'anticipates', 'expects', 'intends', 'plans', 'may', 'will', 'would' or 'should' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond each of the Company's ability to control or predict. Forward-looking statements are not guarantees of future performance. Recipients of this presentation should inform themselves about and observe all applicable legal requirements in their jurisdictions. In particular, the distribution of this presentation in certain jurisdictions may be restricted or prohibited by law and, accordingly, Recipients represent that they are able to receive this presentation without contravention of any unfulfilled registration requirements or other legal restrictions in the jurisdiction in which they reside or conduct business. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and none of the Company or its advisers accept liability to any person in relation thereto. Page 2

Table of Contents

Section 1

Company Overview

Section 2

Industry Overview

Section 3

Investment Highlights

Section 4

Financial Highlights

Appendix

Supplemental Information

Page 3

Section 1 Company Overview

Page 4

Emtek Overview One of Indonesia’s most prominent entertainment, content and technology businesses Sariaatmadja Family

Eddy Sariaatmadja President Commisioner

Susanto Suwarto (Commissioner)

22.3%

Piet Yaury (Commissioner)

10.5%

The Northern Trust Company

8.9%

PT Adikarsa Sarana

9.7%

Established Emtek in 1983 and has held current role since then

PT Prima Visualindo

8.3%

Public / Others

7.4%

32.9%

Revenue1: IDR 4,681bn EBITDA1: IDR 1,637bn

Media

Connectivity & Others

Revenue1: IDR 3,357bn EBITDA1: IDR 1,731bn

Revenue1: IDR 26bn EBITDA1: IDR (138)bn

Pay TV

FTA

Solutions Revenue1: IDR 1,299bn EBITDA1: IDR 44bn

Infrastructure  VSAT integrated solutions

Revenue1: IDR 2,240bn EBITDA1: IDR 1,239bn

Revenue1: IDR 1,037bn EBITDA1: IDR 406bn

Two leading FTA stations in Indonesia

Revenue1: IDR 81bn EBITDA1: IDR 11bn

Revenue1: IDR 17bn EBITDA1: IDR (72)bn

Jakarta’s popular local TV station

DVB-T2 based pay TV operator

Content

 Mobile and telecommunications solutions, power systems

Internet

Services

 Corporate internet access provider

 Complete IT provider  Payment solutions

Producer of awardwinning drama programs

Outdoor

Diversified animation house

Online

Retail  Telecommunications retail distribution across Java and Kalimantan

2

Leading outdoor advertising company in Thailand

New production house for drama3

Internet business arm, currently operating news and lifestyle portals

Source: Company Filings, Company 1. 2012 Revenue and 2012 EBITDA based on the listed holding companies PT Surya Citra Media Tbk (‘SCMA’) and PT Indosiar Karya Media Tbk (‘IDKM’) Connectivity includes other miscellaneous revenues, admin expenses and elimination 2. Emtek acquired a 30% economic interest in Plan B in January 2013 3. Emtek provides financial support to AS Productions and takes all of its programming but does not own any equity in it

Page 5

History & Milestones Emtek has shifted its growth strategy from solutions & connectivity towards media, which now constitutes the core operations Corporate History & Milestones 1983 – 2013 Elang Graha Propertindo

Ekaprasarana Primatel

Solutions & Connectivity

Astika Gerbang Timur

Revenue1: IDR 1,324bn

Media Revenue1: IDR 3,357bn

1983

1990

1991

1995

1996

1997

1999

2002

Year of Establishment

Transition Period

IPO

 Founded as PT Elang Mahkota Komputer and engaged in the business of computer equipment

 Name changed to PT Elang Mahkota Teknologi (Emtek)

 IPO of 10% of paid-up capital on the Indonesia Stock Exchange on January 12, 2010

2003

2004

FTA Expansion and Pay TV Initiation  Acquired the national TV station, Indosiar  Launched the digital pay TV service, Nexmedia

2007

2010

2011

2012

2013

Business Expansion

Streamline Operations

 Animasi Kartun Indonesia (content production of cartoons) began operations

 Acquired Plan B Media (outdoor advertising)

 KMK Online started to operate

 Merger between SCMA and IDKM completed on May 1, 2013. Key rationale was to improve financial profile, extract synergies and drive operational efficiencies  SCP interest sold to SCMA on June 28, 2013

Source: Company Filings, Company 1. Based on restated FY 2012 financials

Page 6

Emtek’s Business Strategy Clear and executable strategy to deliver growth and create value Focus on Selective Acquisitions

Solidify Position as a Preferred Advertising Platform

 Selectively pursue strategic acquisitions and investments that offer good growth opportunities while maintaining a prudent financial profile  Emtek has grown in recent years through successful acquisitions and investments including Indosiar, Screenplay and Dreamtoon production houses, and a 30% stake in Plan B Media, one of Thailand’s largest outdoor advertisers  Emtek acquired a 30% shareholding in R.S.Usada Insani, a 350 bed Jakarta hospital in September 2013

 Retain control of SCMA as a core business to drive baseline revenues and audience share across a wide profile of income segments and age groups  Deepen media reach to the large and varied Indonesian population / advertisers  Develop Emtek (through SCTV, Indosiar, and O Channel) as the key platform in Indonesia for advertisers who wish to access a wide profile of income segments and age groups

1

5

Continue Leveraging In-house Content Production Capabilities

Continue to Develop Nexmedia Pay TV  Further develop Nexmedia pay TV services through improved product offerings, broader coverage and technological upgrades  Leverage on Nexmedia’s cost effective DTT technology to increase market share in a strong expected industry growth environment

 Further leverage in-house content to improve margins

4 2

3

 Create original television programming and expand online programming to generate cost effective high audience ratings  Bring new concepts to the market in an expedited timeframe, better adapt programs to target audience, and incorporate evolving audience preferences

Further Improve Indosiar’s Performance by Realizing Synergies with SCMA and Other Group Assets  Indosiar was acquired in mid-2011 and has returned to profitability in 2012, with its EBITDA margin improving considerably since 2010  Emtek envisages to further realize synergies in broadcasting infrastructure and content management to improve profitability and further solidify its strong media industry position

Page 7

Section 2 Industry Overview

Page 8

Favorable Macro Environment in Indonesia

 Indonesia, with a population of over 245mn, is the 4th most populous country in the world – 84% of population below the age of 50 – 4th highest number of Facebook users in the world after the U.S., Brazil and India – Middle class population to almost double from 74mn currently to 141mn in 2020 – Indonesians prefer to watch TV than to read, watching over five hours of TV per day

Largest Population in Southeast Asia…

…Robust Growth in Real GDP per Capita

People (mn)

US$ per Capita

(%)

300

3,000

6 5.2

5.2 5.0

245

5.1

4.8

4.8

2,226 2,124 2,021 200

1,922

2,000

4

1,831 1,746

97

100

91

1,000

2

0

0

70 62

 2012 - 2017E GDP per capita expected to grow at a CAGR of 5.0%

29 15

2017E

2016E

2015E

Brunei

Singapore

Laos

Cambodia

Malaysia

Myanmar

Thailand

Vietnam

Philippines

Indonesia

Real GDP per Capita

2014E

0 2013E

5

0

2012A

7

Real GDP per Capita Growth

Source: Media Partners Asia

Page 9

Indonesia Media Industry at the Forefront of Growth Strong growth in advertising and continued dominance of TV as preferred medium Asia Pacific Net Advertising as % of Nominal GDP

Advertising Growth

%

2012-2017E (% CAGR)

1.0%

0.9%

0.8% 0.6% 0.6% 0.6%

8.9% 8.9%

Indonesia

India

Vietnam

Philippines

China

5.7% 6.0% 6.1%

Thailand

Singapore

3.0% 2.3% 2.6%

3.9% 4.5%

Hong Kong

Australia

N.Zealand

Hong Kong

Australia

1.2%

New Zealand

Indonesia Media Advertising

Vietnam

Korea

Japan

Thailand

Philippines

Malaysia

China

Taiwan

0.0% Singapore

0.0% India

4.0%

Indonesia

0.2%

Taiwan

0.2%

Malaysia

8.0%

0.3% 0.3% 0.3%

Korea

0.4% 0.4% 0.4% 0.4%

10.7%11.3%

12.0%

0.5%

Japan

0.6%

14.6%

16.0%

0.7% 0.7%

Advertising Spend Market Share (2012 – 2017E) 2012 Online 4.4% Newspaper 21.0%

2017E OOH 2.1%

Radio 1.4%

Newspaper 16.3%

Online OOH 8.9% 1.9% Radio 1.1%

Magazine 2.2% Magazine 2.8%

TV 68.2%

Source: Media Partners Asia

TV 69.6%

Page 10

FTA TV Market Overview Strong Growth Prospects for Indonesia FTA Industry Market Overview  TV penetration is expected to increase to ~62% by 2017E and reach ~39.6mn TV households (from ~35.8mn households currently)  Television viewership in Indonesia is strong, and Nielsen estimates average viewership of over five hours per day – Indonesia’s television industry remains in a high growth phase – Currently there are 10 private and 1 governmentowned FTA networks licensed to broadcast nationwide  FTA players derive majority of revenues from advertising – Advertisers continue to regard FTA TV as the main channel to reach both mass market and premium segments  Rate cards remain low and since 2009, key players have implemented rate card increases of about 15 - 20% each year – This trend is expected to continue over the next five years  TV stations are ramping up their own production capabilities by building more self-owned studios while also controlling more talent across the value chain and having “exclusive” agreements with local production houses or owning these houses outright – In-house content production is expected to have further positive impact on margins

Low Penetration vs. South East Asia Peers 2012 TV Households Penetration Rate (%) 99.6

100

96.1

96.5 85.2

82.1

75 57.6 50

25

0 Singapore

Malaysia

Thailand

Vietnam

Philippines

Indonesia

Source: Media Partners Asia

Indonesia FTA Adspend USD mn 4,000 2,726

3,000 2,000 1,000

835

1,004

2009

2010

1,190 1,358

1,556

1,859

2,091

2,401

-

Source: Media Partners Asia

2011

2012

2013

2014

2015

2016

2017

Page 11

Pay TV Market Overview Strong Expected Growth on the Back of Large, Under Penetrated Pay TV Market Large, under penetrated pay TV market lagging regional peers underpins growth opportunity Pay TV Penetration

Pay TV Industry Revenue Projection

2012 (% of TV Households)

2001 – 2016E (US$ mn)

(1)

100% 82.7%

1,000

81.2%

852

80% 719

800 54.1%

60%

51.3%

584

600 40%

27.9%

20%

460 345

400 11.4%

253

202

6.8%

200

0% India

Singapore

China

Malaysia

0

Thailand Philippines Indonesia

2010

2011

2012

2013

2014

2015

2016

Fast growing pay TV market with moderate decline in ARPU levels Pay TV Subscribers

Pay TV ARPU

Mn

%

10

30%

8

6.3 5.5

6 3.4

4

0

2.4

1.1

1.7

3%

5%

2010

2011

14%

24%

20 15.2 13.6

15

12.5

12.1

11.7

11.3

11.0

10.8

2013

2014

2015

2016

2017

18%

4.4

2

7.1

US$

16%

18%

12% 9%

10 12% 6%

5

0%

0

7% 2012

2013 Subscribers

2014

2015 2016 Penetration

Source: Media Partners Asia 1. Total revenues include both subscription and advertising revenues

2017

2010

2011

2012

Page 12

Section 3 Investment Highlights

Page 13

Investment Highlights

1

One of the Leading FTA Television Businesses In Indonesia

2

Diversified and Popular Content Portfolio and In-house Production Capabilities

3

Differentiated and Challenger Pay TV Platform

4

Growing Portfolio of New Media Businesses

5

Long term Infrastructure / Services Provider for Telecom and Banking Industry

6

Strong Financial Position: High Margin, High Return Business with Limited Leverage

7

Best-in-Class Board and Management Team

Page 14

1 One of the Leading FTA Television Businesses in Indonesia SCTV & Indosiar : Leading Indonesian FTA TV platforms SCTV  Surya Citra Televisi (SCTV) is one of the leading and top rated nationwide FTA TV stations in Indonesia. Its comprehensive programs vary from entertainment, drama, music, news, to sports  Broadcasts via 41 transmission stations, covering a population of 175 million INDOSIAR  Indosiar has been recognized as one of the leading FTA TV stations in Indonesia focusing on the middle-to-low income group, which serves as complimentary to SCTV’s target market of middle-to-high income group  Broadcasts via 34 transmission stations, covering a population of 140 million O Channel : Jakarta’s popular FTA TV station 

  

PT Omni Intivision, O Channel, currently broadcasts across Jabodetabek (Jakarta Greater Area) to reach an estimated total population of 31 million and about 7 million television households. Its target market is the affluent A/B+ income group with an emphasis on lifestyle and entertainment programming, which includes both international and local produced content Positioning: "Lifestyle, Entertainment and City Centric Channel” Commenced broadcasting in May 2005 and recently expanded its broadcast to Bandung Launched a TV shopping program - O Shop in 2009, which has gained popularity and become a key revenue driver

Page 15

1 One of the Leading FTA Businesses in Indonesia (cont’d)

All Time Audience Share & Ranking Audience Share 2

30

SCTV

2

1

2

2

2

2

2

2

2

2

1

2

20 10

0 4

16.2

17.0

19.0

2006

2007

2008

16.0

15.5

15.8

15.4

17.1

15.9

16.9

2009

2010

2011

2012

Q1 2013

Q2 2013

Q3 Oct'13 Nov'13 Dec'13 2013

15.8

16.8

16.1

0

Consistently strong and stable historical performance with leading audience share



Very strong in non-prime time segment



Focused on rolling-out new content in Drama, Sport and Talent Scout genres



One of the first FTA channels with high growth potential



Demonstrated successful turnaround with revenue growth and improvement in EBITDA margin



Focused on rolling-out new content in Drama, Sport and Talent Scout genres



SCTV and Indosiar combined control around 25% audience share in Indonesia



Focused on creating synergies between the two networks and in-house content production

8 12

Audience Share

Rank

All Time Audience Share & Ranking Audience Share 30

Indosiar

 Ranking

4

3

3

Ranking 0 4 6

20 10 12.2

14.0

16.0

5

6

2007

2008

6

6

6

6

7

4 8

13.9 9.9

11.0

9.8

2010

2011

2012

0 2006

6

2009

7.9

8.6

Q1 2013

Q2 2013

Audience Share

9.0

8.9

8.8

8.5

12

Q3 Oct'13 Nov'13 Dec'13 2013 Rank

All Time Audience Share Audience Share 60

Combined

40 20

28.4

31.0

2006

2007

35.0

29.9

25.4

26.8

25.2

24.9

24.5

25.8

2010

2011

2012

Q1 2013

Q2 2013

Q3 Oct'13 Nov'13 Dec'13 2013

24.7

25.6

24.6

0 2008

2009

Source: AC Nielsen

Page 16

2 Diversified and Popular Content Portfolio and In-house Production

Capabilities



Focused on developing in-house content controlling three production houses which help to create a differentiated content offering, offer better control over content costs and relatively faster speed to market

Screenplay

Amanah Surga Production

Dreamtoon

Producer of award-winning drama programs

Up and coming TV production house

Diversified, world-class animation house







Established in 2010, PT Screenplay Produksi (Screenplay) was Emtek Group’s first company dedicated to the production of TV content and it has showed positive results Going into the second year of its inception, Screenplay has produced many high rated programs including FTV dramas as well as Sinetron (soap opera) series

 



Established in 2012, AS Production is the second TV content production house of Emtek, with different positioning from Screenplay AS Production currently produces drama programs to occupy Indosiar’s prime time slots



Established in 2011, PT Animasi Kartun Indonesia (Dreamtoon) is Indonesia’s upcoming animation production house With 4 production studios established in Jakarta, Bandung, Yogyakarta, and Semarang, Dreamtoon is on an ambitious plan to introduce seven new animation titles, along with its characters Dreamtoon has ample growth potential in merchandising, licensing and expansion to international markets

Page 17

3 Differentiated and Challenger Pay TV Platform with

Large Growth Potential



Commercially launched in November 2011, PT Mediatama Anugrah Citra (Nexmedia) is a DVB-T2 pay TV operator covering the Greater Jakarta region



81k subscribers as of December 2013



DTT was chosen because of its superiority in delivering high quality picture – at par with high definition TV – at highly affordable cost



Nexmedia emphasizes convenience as customers do not need to have cable infrastructure or to mount a large dish to enjoy premium channels



Plans to expand into other major cities of Indonesia in the coming years

EBITDA

Capex

IDR Bn

IDR Bn

0

60 43

40

38

(50) (50)

20

(72) (100)

0 2012

Note: as of September 2013 data is unaudited

9M 2013

2012

9M 2013

Page 18

4 Growing Portfolio of New Media Businesses 

Management has been actively investing to build its new media business portfolio in order to drive higher growth and achieve synergies with its existing businesses



Recently acquired a 30% stake in Plan B, a diversified outdoor advertising company in Thailand, for US$32 million

Online KMK – Online properties and investments    

Operates Liputan6.com, news portal; the long established news brand of SCTV’s news program Full coverage and live streaming of Champions League matches Recently acquired Lakupon.com which currently is the third largest daily deal website in Indonesia Actively expanding to other online media and commerce businesses

Outdoor Plan B – Diversified Outdoor Advertising in Thailand Thailand’s #2 outdoor advertising company by revenue Most strategic spots and concessions around the metro area Pioneer in implementation of latest outdoor advertising technologies: Giant LEDs, touch screen displays, LCDs on trains and buses, traffic information

  

Revenue

EBITDA

THB MM

THB MM

1,500

600 1,012

1,000

1,000

Net Income Margin (%) 487

60

387 400

49%

40

200

400

60 250

300 197

20

0 2012

Note: as of September 2013 data is unaudited

9M 2013

0 2012

40 20

100 20%

0

Margin (%)

200

38% 500

THB MM

9M 2013

25%

0

0 2012

9M 2013

Page 19

5 Long Term Technology Infrastructure / Services Provider for Telecom

and Banking Industry

Infrastructure 

Tangara Mitrakom - Offers VSAT integrated solutions since 1998, with over 3,200 remote units installed across Indonesia

Services



Abhimata Citra Abadi – Pioneer in telecommunications services offering: telecommunications infrastructures, distribution, content & application



Abhimata Persada – Complete IT solutions provider, with focus on financial industry such as ATM, POS, teller, telebanking and credit card solutions



Partnered with some of the most respected global technology companies such as Tellabs, ACI, Emerson, and Hughes Network Systems

Telecommunications Retail



Sakalaguna - Distributor of mobile physical and e-vouchers as well as starter packs for pre-paid and post-paid mobile connections Established in 2003, the Group has been a major distributor for Indosat Page 20

6 Strong Financial Profile Strong cash flow generation and margin expansion through disciplined cost control

Revenue

EBITDA / EBITDA Margin

(IDR Bn)

(IDR Bn)

6,000

2,000 4,681 4,137

4,000

4,203

3,354

35% 1,637

35% 27%

1,500

Cash Flow from Operations (%) 40%

34% 1,432

1,431

485 10%

0 2009

2010

2011

2012

9M 2013

0% 2009

2010 EBITDA

2011

2012

0

9M 2013

2009

2010

Return on Equity

Debt / EBITDA

(%)

(%)

(x)

20%

26%

9M 2013

1.5 15%

15%

15%

18%

20%

2012

Prudent capital management

Return on Capital

20%

2011

EBITDA Margin

Consistently robust returns

30%

969

856

500

500 0

1,124

20%

586

2,000

1,093 1,000

896

1,000

1,500

30%

21%

2,829

(IDR Bn)

1.1x 13%

13%

16% 12%

10%

1.0x

1.0 0.7x

0.7x 0.5x

7%

10%

0.5 5%

0%

0% 2009

2010

2011

2012

Note: as of September 2013 data is unaudited

LTM as of Sep 2013

0.0 2009

2010

2011

2012

LTM as of Sep 2013

2009

2010

2011

2012

LTM as of Sep 2013

Page 21

7 Strong Board and Management Team  Emtek has a very strong and experienced board and management team which include recognised leaders in the Indonesian media industry  Average experience of the Board of Directors is 20 years with a strong execution track record Board Of Commissioners

Board Of Directors

Eddy Kusnadi Sariaatmadja

Piet Yaury

Susanto Suwarto

Fofo Sariaatmadja

Sutanto Hartono

Alvin W. Sariaatmadja

President Commisioner

Commisioner

Commisioner

Commisioner

President Director

Director

Has served as Commissioner of the Company since 2012, Commissioner of Indosiar since 2011 and also serves on several of Emtek’s subsidiaries BoC or BoD

Has served as Commissioner of the Company since 2012 and Commissioner of SCTV since 2011

Has served as President Comm. Has served as Commissioner of of the Company since 1989 the Company since 1989 Also serves as Commissioner of PT Surya Citra Televisi since 2001

Also serves as Director of CV Masa Baru since 1968

Previously served as CEO of Emtek from 2009-12

Serves as Commissioner on four of Emtek’s subsidiaries Previously served as Director of Emtek from 2009-12

Joined the Company in May 2012 as President Director and Unaffiliated Director

Has served as a Director of the Company since 2011

Has served as President Director of SCTV since November 2011

Also serves as Director of PT Indosiar Karya Media Tbk and PT Indosiar Visual Mandiri since 2011

Prior to the Company and SCTV, Sutanto joined Microsoft from Rajawali Citra Televisi Indonesia (RCTI), where he had served as CEO since 2008 and Managing Director since 2003

Jay Geoffrey Wacher

Stan Maringka

Erry Firmansyah

Didi Dermawan

Yuslinda Nasution

Commisioner

Independent Comm.

Independent Comm.

Independent Comm.

Director

Australian Citizen Has served as a Commissioner of the Company since 2011 Previously served as a Director of the Company from 2009-2011

Has served as Commissioner of the Company since 2007

Has served as an Independent Commissioner of the Company since September 2009 Currently also holds important roles in several companies

Has served as an Independent Commissioner of the Company since September 2009

Has been with the Group since 1992 and has served as a Director of the Company since September 2009 Serves as Commissioner or Director on several of Emtek’s subsidiaries Previously served as President Director of the Company from 2007- 2009

Page 22

Section 4 Financial Highlights

Page 23

Emtek Business Mix: Changing composition of key financial metrics

2010

2011

0.2%

0.2%

2012

10M 2013 (unaudited)

0.5%

1.3% 25.2%

27.7%

32.9% 40.8%

Revenue

58.9% 66.9%

IDR 3,354 Bn

IDR 4,137 Bn

71.7%

IDR 4,681 Bn 2.5%

4.7%

8.2%

73.6%

IDR 4,733 Bn 3.2%

EBITDA (1) 91.8%

IDR 896 Bn

IDR 1,637 Bn 1.9%

5.7%

8.4%

96.8%

97.5%

95.3%

IDR 1,431 Bn

IDR 1,630 Bn

2.6%

9.4%

Net Income (2) 91.6%

IDR 429 Bn

98.1%

94.3%

IDR 608 Bn

16.6%

31.4% 12.5%

43.8%

46.4%

Capex 40.2%

71.0%

IDR 82 Bn Media

Solutions

IDR 884 Bn

16.6%

28.4%

87.9%

IDR 793 Bn

IDR 299 Bn

19.2% 64.2%

9.8%

IDR 273 Bn

IDR 315 Bn

Connectivity and Others

1. Percentage breakdown calculated after excluding Connectivity and Others segment’s EBITDA contribution of IDR -44Bn, IDR -65Bn, IDR -138Bn and IDR -135Bn in 2010, 2011, 2012 and 10M2013, respectively which are however included in total 2. Percentage breakdown calculated after excluding Connectivity and Others segment’s Net income contribution of IDR -83Bn, IDR -177Bn, IDR -130Bn and IDR 83Bn in 2010, 2011, 2012 and 10M 2013, respectively which are however included in total 3. Note: as of October 2013 data is unaudited

Page 24

Consolidated Emtek Balance Sheet

31 Decem ber 2012

31 October 2013

(IDR MM)

(IDR MM)

4,080,957

4,409,301

Assets Cash and Cash Equivalents Inventories

346,748

470,111

Other Current Assets

1,290,185

1,881,698

Total Current Assets

5,717,890

6,761,111

Net Fixed Assets

1,410,478

1,748,173

Net Goodw ill and Intangible Assets

2,619,131

2,923,483

430,398

588,873

Other Non Current Assets Total Non-Current Assets

4,460,008

5,260,530

10,177,898

12,021,640

16,096

335,604

Other Current Liabilities

1,038,465

1,284,653

Total Current Liabilities

1,054,561

1,620,257

872,671

1,480,658

Total Assets Liabilities Short Term Debt (1)

Long Term Debt (1) Other Non Current Liabilities

384,447

380,700

Total Non-Current Liabilities

1,257,118

1,861,358

Total Liabilities

2,311,678

3,481,615

6,890,700

7,283,007

975,519

1,257,018

7,866,219

8,540,025

10,177,898

12,021,640

Equity Attributable to Shareholders Minority Interest Total Equity Total Liabilities and Equity 1. Debt includes financial debt and finance lease liabilities Note: 31 October 2013 data is unaudited

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Appendix Supplemental Information

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Group Structure SCMA is the largest subsidiary, which owns SCTV and Indosiar Sariaatmadja Family

Susanto Suwarto (Commissioner)

22.3%

Piet Yaury (Commissioner)

10.5%

8.9%

The Northern Trust Company 9.7%

PT Adikarsa Sarana

PT Prima Visualindo

8.3%

Public / Others

7.4%

32.9%

Market cap: IDR 32.4tn Parent Only Debt 1: IDR 1,400bn Consolidated Debt (ex. leases) 1: IDR 1,644bn Consolidated Debt: (inc. leases) 1: IDR 1,744bn

Media PT Surya Citra Media Tbk (“SCMA”) Market Cap: IDR 36.8tn

73.7%

99.9%

99.9%

PT Surya Citra Televisi

PT Indosiar Visual Mandiri

Solutions

Connectivity and Others 99.9%

99.9% PT Mediatama Anugrah Citra

99.9%

85.6%

PT Abhimata Persada

99.9%

PT Bitnet Komunikasindo

PT Elang Graha Propertindo

50.9%

PT Indopay Merchant Service

PT Sakalaguna Semesta

Debt: IDR 15bn

51.0%

PT Screenplay Production

99.9%

99.9%

50.1%

30.0%

60.0%

92.0%

PT Omni Intivision

PT Tangara Mitrakom

99.9%

PT Kreatif Media Karya

PT Abhimata Citra Abadi

99.9%

PT Rintis Lingkar Nusantara

PT Animasi Kartun Indonesia

Plan B Media Co. Ltd (Thailand)

Debt: IDR 95bn

PT Indosurya Menara Bersama

CB: IDR 71bn

Source: Company Filings, Company, Bloomberg as of February 6, 2014 Note: The wider Emtek Group has 2 listed companies, the parent co. Emtek (Mkt cap of IDR 32.4tn) and PT Surya Citra Media Tbk (Mkt cap of IDR 36.8tn) 1. Debt position at 31 October 2013 based on aunaudited company information

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Emtek’s organization structure consists of 8 Commisioners and 4 Directors Emtek’s Organization Chart President Commissioner (Komisaris Utama) Eddy Kusnadi Sariaatmadja Independent Commissioners (Komisaris Independen) Stan Maringka Erry Firmansyah Didi Dermawan Commissioners (Komisaris) Piet Yaury Susanto Suwarto Fofo Sariaatmadja Jay Geoffrey Wacher

President Director (Direktur Utama) / Unaffiliated Director (Direktur Tidak Terafiliasi) Sutanto Hartono Directors (Direktur) Alvin W. Sariaatmadja Yuslinda Nasution

Remuneration Comittee (Komite Remunerasi) Chairman (Ketua) Eddy Kusnadi Sariaatmadja Members (Anggota) Susanto Suwarto Didi Dermawan

Audit Comittee (Komite Audit) Chairman (Ketua) Erry Firmansyah Members (Anggota) Max Sumakno Budiarto Patricia Marina Sugondo

Corporate Secretary (Sekretaris Perusahaan) Monika Ida Krisnamurti

Head of Finance & Planning Division (Kepala Divisi Keuangan & Perencanaan) Sri Dewi

Head of Accounting & Tax Division (Kepala Divisi Akunting & Pajak) Saka Marlinang Nainggolan

Head of Information Technology Division (Kepala Divisi Teknologi)

Head of Business Development (Kepala Divisi Pengembangan Usaha) Andya Daniswara

Head of Corporate Communication Division (Kepala Divisi Komunikasi)

Head of Investor Relation (Kepala Divisi Hubungan Investor) Olle Wennerdahl

Head of Legal Division Monika Ida Krisnamurti

Head of Internal Audit Division (Kepala Divisi Audit Internal) (TBA)

Head of HRD Division Thomas Suhardja

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SCTV & Indosiar: SCMA and IDKM were merged on May 1, 2013 Overview of Merger  The merger ratio was based on the independent appraised values1 of IDR 2,171 per share for SCMA and IDR 1,044 per share for IDKM  The merger was expected to be able to be implemented on a tax neutral book value basis in accordance with the provisions of applicable tax regulations. However, on 13 December 2013 the Directorate General of Tax rejected SCMA’s application for tax neutrality. On 10 January 2014 SCMA submitted a law suit against the Directorate General of Tax in relation to its decision, but the matter is yet to be heard by the relevant Tax Court. Before Merger After Merger Pro EMTK

SCMA (74.66%)

SCTV (99.99%)

(IDR in Billions)

EMTK

IDKM (74.08%)

IVM (99.99%)

SCMA (74.46%)

SCTV (99.99%)

IVM (99.99%)

Forma

2012 Revenue

2,240

1,037

3,277

2012 EBITDA

1,239

406

1,646

Debt 2

250

248

498

Debt/ 2012 EBITDA

0.2x

0.6x

0.3x

Strategic Rationale    

Strong cash flow generating television business in SCTV matched with growth opportunity of Indosiar Increased opportunity to extract synergies from operating two television stations Streamlined governance arrangements achieved through the merger The merged entity has an improved position in the Indonesian Stock Exchange Index, and is now the 20th largest company in the Jakarta Composite by market cap 3  The enlarged holding company, SCMA, has an improved free float of shares. SCMA post merger has a total of 14.62Bn shares on issue and the free float is 3.73Bn shares  SCMA and IDKM shareholders had expressed a strong interest in having the two television channels held by one holding company Source: Company information, Factiva and Factset 1. Independent appraisal done by KJPP and Stefanus Tonny Hardi & Rekan 2. As of 2013Q1 3. As of February 6, 2014

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